Lighter's LIT Surges 50% in a Week, Breaks Above $5.2 for Record High
Summary
- The price of Lighter (LIT), the token of a perpetual futures-focused decentralized exchange, rose above $5.2 to hit a record high.
- LIT jumped nearly 15% from a day earlier and was up almost 49% from a week earlier.
- The rally appears to have been driven by its partnership with Robinhood Chain, the allocation of 11 million tokens to the Robinhood community, and a structure that lets users convert perpetual futures trading points into LIT.
Forecast Trend Report by Period
LIT, the token of perpetual futures-focused decentralized exchange Lighter, climbed to a record high.
CoinMarketCap data on Sept. 9 showed LIT jumping nearly 15% from a day earlier to above $5.2. It was the first time the token had surpassed the $5.2 mark. The price was up nearly 49% from a week earlier.
The gains appear to have been driven by Lighter's partnership with Robinhood Chain. Eligible users in some regions recently became able to trade Lighter's crypto perpetual futures through Robinhood Wallet.
Robinhood said Lighter allocated 11 million tokens to the Robinhood community. Users can earn points by trading perpetual futures on Lighter and convert those points into LIT from the allocated pool.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul